Remington Rand Stock Price After October 29 1929 Stock Market Crash and Great Depression
Remington Rand (1927–1955) was an early American business machines manufacturer, best known originally as a typewriter manufacturer and in a later incarnation as the manufacturer of the UNIVAC line of mainframe computers but with antecedents in Remington Arms in the early nineteenth century.
For a time, the word “Univac” was recognized as a generic synonym for “Computer“. Remington Rand was a diversified conglomerate making other office equipment, electric shavers, etc. The Remington Rand Building at 315 Park Avenue South in New York City is a 20-floor skyscraper completed in 1911.
Right before the October 28, 1929 Black Monday and October 29, 1929 Black Tuesday stock market crash, Remington Rand stock had been trading at $48.125 per share on the New York Stock Exchange. Remington Rand stock closed on August 11, 1932 at $3.625 per share and hit a 1932 low of $1.00 per share.
Before PCs there were Remington typewriters, so it’s no small irony that the company also had its fingerprints all over Univac, one of the first commercial computers. Remington Rand also pounded out large numbers of pistols for the military.
Remington Rand had a cumulative total return of 12,428% during the 1932 to 1954 period and is now part of Unisys.
Tags: August 11 1932, Black Monday, Black Tuesday, Computer, Conglomerate, Mainframe Computers, Military, October 28 1929, October 29 1929, Remington Arms, Remington Rand, Remington Typewriters, Stock Market Crash, UNIVAC